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2018

2018

Information about termination of services

As we have previously notified, Danske Bank has decided to focus its activities in the Baltic States exclusively on servicing subsidiaries of Danske Bank Group Nordic customers and global corporates with a significant Nordic footprint.

The decision is strategically based on our overall ambition to focus on customers in the Nordic region. In the Baltics, subsidiaries of Nordic customers and global corporates is the customer segment where we can offer the best solutions and provide the most value. According to this strategy Danske Bank A/S will no longer be able to offer financial services for local Baltic businesses and private customers.

The following changes concern our relationships with local Baltic businesses and private customers who have received notifications regarding account termination on 18th September 2018.

Bank accounts

Current account agreement will be terminated and present bank accounts will be closed on the 8th of December 2018.

If any funds (either monetary funds or securities/financial instruments) remain in your account(s) after termination of the agreement, those will be transferred into bank’s internal accounts and you will have to submit an application at the Business Centre of the bank in order to transfer the funds.

In case you will have securities/financial instruments in the Bank after 7th December 2018, the Electronic services agreement will remain valid, i.e. you will only maintain the possibility to use Danske eBank to the limited extent (e.g. to check reports/statements of the financial instruments, the applicable fees, for information exchange between the parties etc.) as determined by the Bank.

If during 1 (one) month from closing the Account, the bank receives a payment in your name, the bank will transfer it to the other account of yours (should you have submitted relevant data to the bank). After that period, the bank will return the received amount to the payer.

What should you do?

We recommend you to transfer your current account balance to your account with another service provider by not later than 7th December 2018 5:00 p.m. If any funds remain in your account(s) after termination of the agreement, you will have to submit an application at the Business Centre of the bank in order to transfer the funds. The remaining funds can be only transferred to an account opened to your name with other financial institution in European Economic Area country. Danske Bank is entitled to ask additional information or documents about source of funds.

In case of need, print or download the Account statements from Danske eBank before 5 p.m. on the 7th of December.

Please notify other bodies and persons who make payments to your account about the new account numbers you have with another payment service provider.

You can terminate the current account agreement and related agreements earlier by sending us a free-format application in Danske eBank or an e-mail to avaldus@danskebank.ee with a digitally signed application, which can be found here.

The Bank will terminate your Savings Account agreements on the 8th of December 2018.

Savings amount and interests will be paid to your current account on 8th of December 2018.

What should you do?

We recommend you to terminate Savings Account agreement and transfer the funds from Savings Account through your current account to your account with another service provider by not later than 5 p.m. on the 7th of December 2018.

Payment cards

The payment card agreement will be terminated, the payment card will be closed and you are not entitled to use it as of 22nd November 2018.

Monthly administration fee (if applicable) calculation will be stopped immediately after card is stopped and fees will be written from the account, so please make sure that there will be enough funds for fee debiting.

Travel insurance (if applicable) will be valid till end on insurance expiration.

Digital services

Your Electronic services agreement will be terminated on 8th of December 2018 if there are no securities or other financial instruments in your custody account in the Bank.

Danske eBank and Danske mBank orders that will be unexecuted until end of December 7th will be rejected.

SMS notification service will be terminated and you will not receive any new messages from 8th of December 2018.

What should you do?

We recommend that you download or print out your account statements for the last one to three years from Danske eBank. You could also refer to customer servicing unit of Danske Bank regarding such statements.

In case you are an eBank user within Electronic Services agreement or payment card holder in payment card agreement of a customer who will remain a customer of Danske Bank, you will maintain the possibility to access the abovementioned customer’s account with your current Danske eBank security elements.

Payments and Cash Management

You will be able to make payments to and from Danske Bank accounts without any interference until 7th December 2018 5:00 p.m.

If you would like that during 1 (one) month from closing the Account, the bank will accept incoming payments in favour of closed account and will transfer it, you need to provide your new account number to the bank.

What should you do?

Please notify other bodies and persons who make payments to your Danske Bank account about the new account number you have with another payment service provider.

Receipt of e-invoices and processing of related automatic payment shall be valid until 7th December 2018 inclusive.

From 8th of December 2018 onwards, Danske Bank will not be accepting e-invoices sent to you by the service providers and will not be carrying out their automated payment.

If you will have received e-invoices by 7th December 2018 inclusive that will not have been paid, related payments will not be executed and you will need to take care of their payment themselves in other ways.

What should you do?

Please subscribe e-invoices and, if desired, their automated payment by other bank. We recommend that you do this before 30th November 2018. This will prevent the invoices from remaining unpaid.

In order to transfer e-invoices to another bank, you must place a new e-invoice order with your service provider (e.g. magazine retailer). This can be done in your new bank's Internet Bank or at their branch or at a branch of the service provider. After receiving the new e-invoice order, the service provider will forward your e-invoices to your new bank (and stop sending them to Danske Bank).

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You are always welcome to contact us if you have questions about how we process personal data. You can contact our Data Protection Function, Holmens Kanal 2-12, 1092 Copenhagen K, Denmark, e-mail: DPOfunction@danskebank.com.